The Securities and Exchange Commission (SEC) said it has collected P119.07 million in fees and penalties, or an average of P11.9 million per month from March 2021 to January of this year, through its Web-based system that allows cashless payment of business registrations, fees, and other charges.
In an order issued February 8, the SEC directed CashWill, PesoBee, Peso T-Safe Online Cash, RushLoan, SkyMart, SpendCash, Tapa, and WithU, to immediately cease and desist from operating lending businesses until they have incorporated and secured from the SEC authorization to pursue such activities.
Globe president and CEO Ernest Cu also asked the government to institute stronger measures against phishing, noting that current laws are lacking in terms of enabling the prosecution of cybercriminals.
Dubbed “The Hive,” it is said to be the largest operating telco-neutral data center facility in the country, with three floors capable of housing at least 3,000 server racks of up to 45U rack height.
In an order issued February 3, the SEC directed Tacoloan, VCash, 365 Cash, SwipeCash, and BootCash to immediately cease and desist from operating their lending businesses and related activities until they have incorporated and secured from the SEC their respective certificates of authority to operate as a lending or financing company (CA).
The proposed SEC guidelines, released on January 27 for public comment, will operationalize BSP’s Circular No. 1133 Series of 2021, which prescribes the maximum interest rates and other fees charged by lending and financing companies, and their online lending platforms (OLPs).
Converge said it is planning to use its micro-trenching technology to put key connectivity elements underground, doing away with the need to rely on poles which are prone to damage during typhoons.
The Semiconductor and Electronics Industries in the Philippines, Foundation Inc. (SEIPI) and Information Technology and Business Process Association of the Philippines (IBPAP) have urged the Senate to immediately ratify the Regional Comprehensive Economic Partnership (RCEP) agreement.
E-commerce dominated over other businesses during the entire pandemic period that began in March 2020, a top executive in the credit card industry said.
